Minnesota Car Accident Loans
- Get Cash As Soon As Today
- Rates As Low As 2.5% Simple, Monthly
- Repay $0 If You Lose
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What Are Car Accident Loans in Minnesota
A car accident loan, also known as legal funding, is a financial aid provided to plaintiffs involved in a car accident case in Minnesota. It is not actually a loan but rather an advance on the potential settlement that a plaintiff may receive after the resolution of the case. These advances are non-recourse, which means if the victim does not win the lawsuit, they don’t have to pay anything back.
Let’s take an example to better understand how a car accident loan works. Suppose you are involved in a car accident. This unfortunate event may result in expensive medical bills, loss of income due to being unable to work, and other related financial strains. Such burdens can be overwhelming especially when you have a lawsuit to focus on. That’s where a car accident loan comes into play.
A pre-settlement funding company like LawsuitLoans.io would evaluate your case and if approved, you could receive funding within 24 hours. This non-recourse fund can then be used to take care of your immediate financial needs like medical expenses, rent, utility bills, and daily expenses. This allows you to focus more on your healing process and less on the associated financial pressures. Moreover, you only pay back the advance if you win your lawsuit and receive a settlement. This minimizes your financial risk during such a trying time.
How Lawsuit Loans Work
Here’s how the lawsuit loan process works in three easy steps. The entire process can be completed within 24 hours with your attorney’s help.
Apply Online or Call Toll-Free
Apply online or call us toll-free at (866) 594-1343. Submitting your application takes minutes.
We Review Your Case
Next, we contact your law firm and collect basic information to review your case. Review only takes a few hours.
You Receive Funds
You and your attorney review and sign our funding contract. Once complete, you can have funds within hours.
Key Information About Car Accident Loans in Minnesota
Have you been in a car accident in Minnesota and waiting for your legal claim to settle? This can be a stressful time. Thankfully, LawsuitLoans.io caters to people like you. They offer car accident loans to help you with your financial needs while waiting for the settlement of your case. To know more, here are some facts on car accident loans in Minnesota.
|Average car accident loan amount by LawsuitLoans.io in Minnesota||$3,686.25|
|Largest car accident loan by LawsuitLoans.io in Minnesota||$12,000.00|
|Average interest rate in Minnesota||22.5%|
|Median personal injury verdict in Minnesota||$30,000.00|
|Minnesota statute of limitations||2 Years; Minnesota Statutes Sec. 541.07|
|Minnesota fault laws||Minnesota is a “no-fault” state, meaning your own insurance covers your losses regardless of who caused the accident.|
Get up to $500,000 with rates as low as 2.5% simple, monthly
Am I Eligible for a Car Accident Loan in Minnesota?
If you’ve been involved in a car accident in Minnesota, getting access to necessary funds while your legal case is being settled can be crucial. Many people opt for lawsuit loans to bridge the financial gap. But, are you eligible for a car accident lawsuit loan? Let’s break it down.
The primary eligibility criteria for a lawsuit loan with LawsuitLoans.io are straightforward:
- You must have a valid legal claim pending against an insurance company or a self-insured company. This assures that there is a potential source of funding for the loan.
- You need to have hired an attorney who is working on a contingency basis. This means the attorney believes your case has merit and will only get paid if you win your lawsuit.
- Lastly, you need to be at least 18 years old, as loans cannot legally be granted to minors.
If you meet these criteria, you could potentially qualify for a car accident lawsuit loan from LawsuitLoans.io. The process is simple and quick, enabling you to focus more on recovery and less on finances.
Get an Instant Quote
Input your requested funding amount and the time your case may take to settle here to see your savings and cost when you choose LawsuitLoans.io. While we sometimes offer interest rates as low as 2.5%, our calculator assumes an interest rate of 2.9%. This calculator is illustrative – please contact us for an instant, written quote for your request.
Months Until Settlement:
Pay as little as $2,631 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Save as much as $1,697 on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Save as much as 39% on a lawsuit loan of $10,000 if your case settles within 6 months of your advance.
Car Accident Loan Process in Minnesota
If you’ve been injured in an auto accident in Minnesota, you may be facing a long, drawn-out legal battle. In the meantime, you may be dealing with medical bills, lost wages, and other unexpected expenses. This is where a pre-settlement company like LawsuitLoans.io can step in to help.
The process for getting a car accident loan is straightforward and consists of five main steps:
- Apply online: You begin the process by completing an application found on the LawsuitLoans.io funding application page.
- We contact your law firm: Once we receive your application, our team will reach out to your law firm to discuss your case.
- We review your case: After discussing with your law firm, our team will carefully review your case, examining multiple factors like the severity of your injury, the impact it has on your life, the likelihood of winning your lawsuit, etc.
- You sign a contract: If your application gets approved, you’ll sign a contract agreeing to repay the loan when your case settles.
- You get funds: Upon finalizing your agreement, we will send you the funds. The amount you receive depends on your expected settlement.
Let’s consider a real-life example to illustrate this process: John was injured in a car accident in Minnesota and was unable to work due to his injury. He submitted an application to LawsuitLoans.io, providing all relevant information about his claim. Our team contacted John’s law firm and after careful review, concluded John had a strong case. A loan agreement was then drafted and signed by John. Now, while John waits for his lawsuit to resolve, he has the necessary funds to cover his costs.
Apply today and get funds as soon as the same day you apply!
Roadway Accident Cases we Fund in Minnesota
At LawsuitLoans.io, we understand how stressful a roadway accident can be, especially if you have to wait for the resolution of your legal case. To ease financial pressure, we offer pre-settlement funding for almost any type of roadway accident in Minnesota. The types of cases we fund include:
- Bicycle Accident Loans: Bicycle accidents often result in severe injuries due to lack of protection compared to motorists. Riders can potentially receive funding while they wait for their case to settle.
- Car Accident Loans: Car accidents are common and often devastating. Victims dealing with physical, emotional, and financial hardship can apply to get financial help.
- Commercial Vehicle Accident Loans: Injuries resulting from accidents involving commercial vehicles can be serious. Waiting for a fair settlement need not be financially draining, though.
- Government Vehicle Accident Loans: Suffering an accident with a government vehicle can be complex. Get the fund you need to cope while your legal case stands.
- Motorcycle Accident Loans: We provide pre-settlement funds for victims of motorcycle accidents. They can utilize the funding during the legal processing period.
- Pedestrian Accident Loans: Accidents involving pedestrians can lead to severe injuries and costly medical expenses. We offer funding to assist you while your case is progressing.
- Rideshare Accident Loans: If you’ve been involved in a rideshare service accident, you don’t have to wait for Uber or Lyft settlement payouts. Reach out to us instead.
- Semi-Truck Accident Loans: Semi-truck accidents often have devastating effects. Secure your finances by applying for pre-settlement funding while your case is being handled.
How Much Money Can I Get From my Car Accident Pre-settlement Loan?
Lawsuit loans from LawsuitLoans.io can range from $500 – $1,000,000+. We can advance up to a maximum of 25% of your expected portion of the settlement if your case is still in progress. For settled cases, we can offer 50% of your expected portion of the settlement.
Let’s give an example to understand better. Assume you are a plaintiff from Minnesota involved in a car accident case with an estimated value of $50,000, and the case is still in progress and expected to settle for some time. Typically, around one-third of the settlement goes to medical providers, another third covers attorney fees, leaving approximately $17,000 for you, the plaintiff. In such a scenario, LawsuitLoans.io can advance roughly 25% of your portion, which would be around $4,250.
Get $500 – $100,000 as soon as today
We understand that if you’re applying for funding with us, you needed the funding yesterday. With your attorney’s cooperation, we can provide funding as soon as the same day you apply with us.
Major Cities we Serve in Minnesota
At LawsuitLoans.io, we offer our pre-settlement funding services to residents throughout the nation. This includes every city in Minnesota. Here’s a list of the top 10 major cities in Minnesota that we serve:
- St. Paul
- Brooklyn Park
- Maple Grove
- St. Cloud
Remember, regardless of whether your city appears on this list, LawsuitLoans.io can provide you with the pre-settlement funding you need while you wait for your legal case to resolve. To start the process, fill out our easy-to-use online application by clicking here or you can contact us via our toll free phone number: (866) 594-1343.
Minnesota Car Accident Funding FAQs
Many Minnesota residents may have questions when it comes to car accident lawsuit loans. Here, we provide straightforward answers to some of the most frequently asked questions.
How much does it cost to get a car accident lawsuit loan?
Costs associated with lawsuit loans can vary based on several factors. These include the details of your case, the amount of loan needed, and the duration until your case settles. For specifics relative to your case, reach out directly to LawsuitLoans.io or call (866) 594-1343.
Do I qualify for a lawsuit loan on my car accident case?
Eligibility for a lawsuit loan largely depends on the strength of your legal claim. If you have a strong case and are likely to receive a settlement or jury award, there’s a good chance you may qualify for a loan. To initiate your application, visit LawsuitLoans.io funding application.
Can you get a loan on a car accident settlement?
Yes, you can. Lawsuit loans are not just for ongoing cases. They are also available if you’re awaiting payout from a settled case. Learn more about car accident settlement loans by contacting LawsuitLoans.io.